News:

The Book of the Diner is well worth preserving. I only wish it had reached a broader audience when it might have mattered more. That is a testament to the blindness of our culture. If there is a future to look back from, one difficult question historians will have to ask is how we let this happen, when so many saw it coming. This site has certainly aggregated enough information and critical thinking to prove that.[/b]

At 2051ET, Japanese government bond futures suddenly halted trading. There was no limit moves or sudden surge in volume and the Osaka Exchange has confirmed it is investigating the reasons for the halt. Following the earlier flash-crash in USDJPY, one wonders just what is going on.. and what is coming?

*TOKYO EXCHANGE CONFIRMS HALT OCCURRED IN 10-YR JGB FUTURES

And sure enough once everyone started to look:

*JGB FUTURES RESUMED; HALT BETWEEN 9:51 TO 10:12 A.M. TOKYO

Following this week's terrible tail in the 2Y JGB auction, and repeated claims by primary dealers that BoJ had killed the JGB market, it is unsurprising that such a 'glitch' could happen... but within an hour of the biggest BoJ announcement in history is too suspicious.

~7.5t yen of fiscal spending ~6t for fiscal investment and loan financing program 15,000 yen handouts for low-income people 10.7t yen for infrastructure spending such as maglev line, ports 10.9t in SME support to weather Brexit

And most fascinatingly...

*KURODA ORDERS ASSESSMENT OF POLICY EFFECTIVENESS NEXT MEETING

Raising doubts about the whole house of cards.

So to summarize, Kuroda left rates unchanged, left QE unchanged, implicitly raised doubts about the effectiveness of the world's monetray policy machinations.. and increased the stock market ETF buying to make sure that the illusion of normality is maintained.